Roku (NASDAQ:ROKU) Shares Gap Down to $136.07

Roku Inc (NASDAQ:ROKU) gapped down before the market opened on Tuesday . The stock had previously closed at $126.29, but opened at $136.07. Roku shares last traded at $142.15, with a volume of 19,438,643 shares.

ROKU has been the topic of a number of analyst reports. Oppenheimer lifted their price objective on shares of Roku from $120.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Rosenblatt Securities upped their price objective on shares of Roku from $134.00 to $159.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. ValuEngine cut shares of Roku from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Cannonball Research set a $105.00 target price on shares of Roku and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Morgan Stanley lowered shares of Roku from an “equal weight” rating to an “underweight” rating and set a $110.00 price target on the stock. in a research note on Monday. Five research analysts have rated the stock with a sell rating, two have given a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $127.28.

The company has a market capitalization of $18.85 billion, a PE ratio of -1,773.96 and a beta of 1.73. The firm’s 50-day simple moving average is $143.22 and its 200 day simple moving average is $120.27.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.28) by $0.06. The business had revenue of $260.90 million during the quarter, compared to the consensus estimate of $257.64 million. Roku had a negative net margin of 3.77% and a negative return on equity of 9.79%. The business’s revenue was up 50.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.09) EPS. As a group, equities analysts forecast that Roku Inc will post -0.52 EPS for the current year.

In other news, CEO Anthony J. Wood sold 35,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $102.94, for a total value of $3,602,900.00. Also, CFO Steve Louden sold 95,789 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $155.95, for a total value of $14,938,294.55. Following the completion of the transaction, the chief financial officer now owns 95,789 shares of the company’s stock, valued at approximately $14,938,294.55. The disclosure for this sale can be found here. Insiders have sold 267,120 shares of company stock worth $38,098,547 over the last 90 days. 22.70% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of ROKU. Vanguard Group Inc. grew its position in shares of Roku by 17.4% in the second quarter. Vanguard Group Inc. now owns 6,582,049 shares of the company’s stock valued at $596,202,000 after purchasing an additional 975,714 shares during the last quarter. Morgan Stanley grew its holdings in Roku by 517.2% during the 2nd quarter. Morgan Stanley now owns 3,966,759 shares of the company’s stock valued at $359,308,000 after buying an additional 3,324,069 shares during the last quarter. BlackRock Inc. increased its position in Roku by 17.4% during the second quarter. BlackRock Inc. now owns 3,962,459 shares of the company’s stock worth $358,918,000 after buying an additional 588,499 shares in the last quarter. Baillie Gifford & Co. increased its position in Roku by 24.5% during the second quarter. Baillie Gifford & Co. now owns 2,276,963 shares of the company’s stock worth $206,248,000 after buying an additional 448,539 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in shares of Roku by 89.5% in the second quarter. Allianz Asset Management GmbH now owns 1,884,212 shares of the company’s stock worth $170,672,000 after acquiring an additional 889,773 shares during the last quarter. 53.06% of the stock is currently owned by hedge funds and other institutional investors.

About Roku (NASDAQ:ROKU)

Roku, Inc operates a TV streaming platform. The company operates in two segments, Platform and Player. Its platform allows users to discover and access various movies and TV episodes, as well as live sports, music, news, and others. As of December 31, 2018, the company had 27.1 million active accounts.

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